CCH Survey Brings Ins and Outs of Drop Shipments Up to Date
Wednesday, May 26, 2010
Posted by: Boomer Consulting, Inc.
Reliable online guidance from CCH on how businesses should deal with the complexities of sales and use taxation of drop shipments has now been updated with data from a fresh survey of state tax administrators. Drop Shipments: Taxation, Compliance and Planning and Diane Yetter’s Drop Shipments Smart Chart in the CCH Sales Tax Research and Compliance Manager present each state’s rules with references to the statutes and regulations defining the increasingly common and complex area of sales and use tax treatment of drop-shipment transactions. CCH is a Wolters Kluwer business and a leading global provider of tax, accounting and audit information, software and services (CCHGroup.com).
Compliance in drop-shipment transactions must be researched on a state-by-state basis to avoid hefty assessments during later state audits. CCH provides both narrative explanations and at-a-glance answers in Smart Chart form.
To keep its online drop-shipment resources up to date, CCH, with the assistance of Yetter Consulting Services, Inc., undertook a comprehensive research project surveying the 45 states with a sales tax and the District of Columbia. Additional analysis and consultation was provided by noted sales tax authority Diane Yetter, president of Yetter Consulting Services, Inc. and founder of the Sales Tax Institute in Chicago.
"Unfortunately, the states don’t have clear guidance on some of the nuances related to the tax rules for drop shipments,” Yetter said. "Our analysis of their answers ensures that the states’ responses are consistent and make sense to any level of user.”
About Diane Yetter and Yetter Consulting Services, Inc.
Diane L. Yetter is president of Yetter Consulting Services (YCS), Inc., a sales tax consulting firm, and founder of the Sales Tax Institute. Since 1996, YCS has minimized risk for its clients by changing the way companies think about sales tax liability. YCS works with financial and tax department leaders to develop sales tax strategies and implement systems that deliver results. YCS is headquartered in Chicago and serves major industries and global companies. For more information, visit www.ycstax.com or contact Diane Yetter at 312-701-1800.
For More Information
For more information on Drop Shipments: Taxation, Compliance and Planning and Diane Yetter’s Drop Shipping Smart Chart, visit www.CCHGroup.com/STRCM or contact a CCH sales representative at 888-224-7377.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a market-leading global information services company. Wolters Kluwer has 2009 annual revenues of €3.4 billion ($4.8 billion/£3.0 billion), employs approximately 19,300 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands.Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.